View more on these topics

Public don’t trust pension pledges

Over three-quarters of the public do not trust the Government to deliver on its pension promises, according to research from the ABI.

Only 19 per cent trust the Government to match its pension pledges while 78 per cent do not. Acceptance is growing that individuals will have to work longer to fund a comfortable retirement, with a substantial minority saying Government initiatives to extend working life are likely to delay their retirement.

The research shows 41 per cent believe the new rules allowing people to receive a lump sum if they delay taking their state pension will encourage them to work longer. Forty per cent say the more generous rules on state pension increments paid to people who delay taking their state pension and who do not take the lump sum option will also encourage them to work longer.

Thirty-seven per cent say the simplification rules which enable individuals to claim an occupational pension while continuing to work part-time are also likely to see them work beyond normal retirement age.

Earnings continue to drive people’s savings habits, with 62 per cent saying that their pension contribution levels are driven by what they can afford.

ABI head of pensions and savings Joanne Segars says: “This proves that the pension industry and the Government need to work even harder to persuade people of the need to prepare for retirement.

“Reform of the state pension system, in particular through reducing means testing so that people can fully benefit from their pension saving, is an essential part of this process.”


The Woolwich confident housing market will pick-up in the spring

Housing market is set to bloom in the spring according to The Woolwich.With the Bank of England freezing interest rates for another month, The Woolwich index shown 45 per cent of homeowners believe their property will continue to increase in value compared to 40 per cent in January.While still lower than the three-year average for […]

Advice dilemma on PPF income move

The Pension Protection Fund will pay only income and not lump sums, which could make transferring out more attractive and pose a dilemma for IFAs on giving advice.


News and expert analysis straight to your inbox

Sign up


    Leave a comment


    Why register with Money Marketing ?

    Providing trusted insight for professional advisers.  Since 1985 Money Marketing has helped promote and analyse the financial adviser community in the UK and continues to be the trusted industry brand for independent insight and advice.

    News & analysis delivered directly to your inbox
    Register today to receive our range of news alerts including daily and weekly briefings

    Money Marketing Events
    Be the first to hear about our industry leading conferences, awards, roundtables and more.

    Research and insight
    Take part in and see the results of Money Marketing's flagship investigations into industry trends.

    Have your say
    Only registered users can post comments. As the voice of the adviser community, our content generates robust debate. Sign up today and make your voice heard.

    Register now

    Having problems?

    Contact us on +44 (0)20 7292 3712

    Lines are open Monday to Friday 9:00am -5.00pm